The developer of interconnected blockchain network Cosmos (ATOM) is warning that the Liquid Staking Module (LSM) of the Cosmos Hub poses serious security risks.

Cosmos blockchain network, researchers have identified potential vulnerabilities within its liquid staking module (LSM), allegedly linked to code injections by North Korean hackers. This alarming development raises questions about the security and integrity of Cosmos, particularly its capacity to protect user funds.

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Cosmos co-founder attributed the oversight to "gross negligence" by validator hosting firm Iqlusion and its leader, Zaki Manian.

Cosmos developers are taking action to remove the Liquid Staking Module (LSM) from the Cosmos Hub after revelations linked its creation to North Korean agents. Earlier today, blockchain development company All in Bits (AiB) issued an emergency alert, highlighting significant security vulnerabilities within the LSM.

Concerns over the security of the Cosmos Hub's Liquid Staking Module (LSM) have intensified following revelations that North Korean developers were allegedly involved in its creation.

The Cosmos Hub liquid staking module (LSM) may still contain vulnerabilities, even after an alleged re-write, due to the involvement of North Korean hackers posing as project team members.

Concerns over the security of Cosmos Hub's Liquid Staking Module have intensified following revelations that North Korean agents allegedly played a key role in its development.

Cosmos founder Jae Kwon called for the Cosmos governance community to immediately conduct a comprehensive audit of the LSM.

Cosmos developer Interchain Foundation has liquidated 4,000 ETH worth around $9.5 million.

Cosmos developer Interchain Foundation sold 4,000 ETH (worth $9.5 million) just 27 hours ago!

The crypto markets saw significant turmoil over the past 24 hours, with over 100,000 traders impacted by mass liquidations, greatly raising concerns during the latest market downturn. Bitcoin (BTC) briefly dipped below the $60,000 mark on October 3 before recovering and pushing back above $60,000.

Binance announces its support for the upcoming Cosmos (ATOM) network upgrade, temporarily suspending deposits and withdrawals on October 2, 2024.

There is still a lot of suffering among the altcoins, with some projects currently close to their lows.

Bitcoin (BTC) retreated from $64,000 late on Wednesday after reaching a peak of $64,780, just short of the crucial $65,000 price level. The overall crypto markets saw a slight retreat, with the market cap falling by 0.82% to $2.23 trillion.

Monerium has launched EURe on Noble blockchain, bringing forth the first euro-backed stablecoin on the Cosmos ecosystem.

Osmosis is partnering with ICP-built Omnity network in order to provide a service for bridging non-custodial BTC into Cosmos.

Asset issuance chain Noble and on-chain fiat issuer Monerium have announced a partnership to bring the EURe stablecoin to the Cosmos and Inter-Blockchain Communication Protocol (IBC) ecosystem.

Monerium has introduced EURe, the first euro-backed stablecoin on the Noble blockchain within the Cosmos ecosystem.

TL;DR The SEC expands its lawsuit against Binance, now classifying tokens such as Axie Infinity (AXS), Filecoin (FIL), and Cosmos (ATOM) as unregistered securities. Binance and its subsidiary BAM Trading are accused of promoting these tokens as investments without complying with the necessary regulations.

The SEC's latest lawsuit update targets additional tokens like Axie Infinity, Filecoin, and Cosmos as unregistered securities, continuing its crackdown on the crypto industry.

The blockchain research company Messari has recently published an in-depth report on the state of the Cosmos ecosystem in Q2 2024.

The team behind the Cosmos-based decentralized exchange (DEX) Osmosis said it is preparing to launch a new project called Polaris that they've been developing in stealth.

Polaris is described as a "token portal" aimed at solving one of decentralized finance's biggest challenges: fragmented user experience.

A new NFT collection designed by Web3 artist CandyApple will be airdropped to Grid Pass holders, with one set to appear on Williams livery.

Here is how some of your favorite assets concluded the week.

JUP currently trades between the lower and middle Bollinger Bands. The price sits above $0.6383 (lower band), which provides support.

The cryptocurrency market continues to crash as traders and investors wonder when the digital assets will reach the bottom. In such an unpredictable market, players can look for technical indicators that assist in spotting potentially oversold cryptocurrencies to buy.

The markets continue to experience volatility, and investors seek some crypto to sell to protect their portfolios from further potential losses. While some crypto assets show signs of surging in price, others are flashing signs of further drops, falling victim to the bear market.

Story Highlights The live price of the Cosmos token is . The Cosmos price could reach a potential high of $10.24 by the end of 2024. ATOM price could reach a potential high of $56.71 by the year 2030. Cosmos (ATOM) price boomed recently and surprised many, including many big hands.

Major cryptocurrencies are starting the new week in the red, with Bitcoin (BTC) tumbling below $58,000 and Ethereum (ETH) slipping below $2,500 once again. The overall crypto market cap also registered a drop of 1.91%, leaving it just above the $2 trillion mark.

Are the success stories of crypto tycoons fueling your search for the next major investment in the crypto market? Among the myriad digital currencies, the Qubetics Whitelist distinguishes itself by offering investors a unique opportunity that could redefine their wealth-building strategies.

The market has been seen to further dip as major cryptocurrencies continue to fall towards their most recent support levels. This only amplified the losses of the altcoin market to bring tokens like Cosmos (ATOM) down to the ground.

The Cosmos Hub has launched its v19 upgrade, focusing on improving efficiency, security, and functionality.

Binance announces support for upcoming Cosmos (ATOM) and Kadena (KDA) network upgrades and hard forks, ensuring a seamless user experience.

Cosmos is presently held between a rock and a hard place in the market, according to crypto analyst Alan Santana. To him, this is a very opportunistic time for long-term investors, most especially those with a bullish outlook.

With a significant decline from its all-time high (ATH), the current price range and market dynamics suggest a complex for Cosmos (ATOM). With several key developments on the horizon and technical signals pointing to both risks and opportunities, understanding what lies ahead for ATOM is crucial for anyone involved in the Cosmos ecosystem.

Deenar, the first gold-backed token in the Cosmos ecosystem, went live on HAQQ Network, an ethics-focused blockchain designed for the global Muslim community. This brings physical gold on-chain, opening new liquidity solutions for Cosmos users — and allowing millions of Muslims to invest in this stable asset while complying with Islam's ethical standards.

Cryptocurrencies staged a strong comeback this week after bottoming to their multi-month lows on Monday. Bitcoin recovered from a low of $49,000 to over $62,000 while the combined market cap of all coins jumped to over $2.2 trillion. This rebound coincided with that of other assets like stocks.

Cosmos Hub's ATOM token bursts into the scene after capturing some momentum from the market's recent dismal performance. According to Coingecko, the token is up more than 10% since yesterday's market overreaction.

The cryptocurrency markets have recovered over the past 24 hours, with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other major cryptocurrencies rebounding after a bloodbath that saw their prices hit lows not seen in months. The crash in the Japanese stock market triggered panic across the traditional and cryptocurrency markets.

The public mainnet of modular infrastructure platform Lava Network is live, having launched on July 30 with support from some of the industry's top players and projects.

Lava Network's mainnet launch, supported by major ecosystems, enhances decentralization and interoperability, fostering broader Web3 adoption. The post Lava Network launches mainnet with Filecoin, Starknet, Cosmos support appeared first on Crypto Briefing.

Bitcoin (BTC) touched $70,000 on Monday after surging past $69,000. However, BTC pulled back sharply after reaching this level, indicating that sellers are fiercely defending the overhead resistance, with the price dropping to $66,810.

Bitcoin (BTC) has risen over 4% during the past 24 hours as it recovers after finding support between $63,000 and $63,500. On Thursday, BTC faced significant selling pressure, dropping to a low of $63,479 before rebounding from the 50-day SMA and reclaiming the crucial $65,000 level.

Cosmos Hub has submitted a governance proposal seeking community approval to transfer 1 million ATOM to liquidity protocol Hydro. The platform said on July 26 that Cosmos Hub's (ATOM) proposal is live in the community forum.

StarkWare, one of the leading companies in the field of blockchain scalability and security, has announced its collaboration with Informal Systems to integrate the Inter-Blockchain Communication (IBC) protocol based on Cosmos into Starknet.